As the state hunkers down for a pre-Thanksgiving storm, Frontier Communications is assuring its customers that it will keep them connected.
The Stamford-based company issued a statement saying it has teams standing by to restore service quickly if the weather causes outages.
Frontier has been under fire from some customers since it took over AT&T’s landline service in Connecticut, and experienced a number of lengthy outages. State officials, including the Attorney General, said they have been in contact with Frontier and they’ll be monitoring how it responds to any problems.
Gov. Malloy: UTC Safe in Connecticut
Governor Dannel Malloy said he’s not concerned about the future of United Technologies in Connecticut, now that the conglomerate has a new leader. CEO Greg Hayes was the man who famously told a conference call that “anyplace outside of Connecticut is low cost,” sparking a storm of criticism.
But Malloy told The Connecticut Mirror that the state’s relationship with UTC is on a stronger footing than it has been in decades. Hayes takes over from Louis Chenevert, who abruptly quit the Hartford-based company this week.
GE Capital Facing New Oversight
General Electric’s finance arm, GE Capital, could face new regulations. The Federal Reserve said it plans to treat the unit as if it were a large bank-holding company. That means GE Capital would be subject to big bank expectations on leverage capital, capital planning, stress testing, liquidity, and risk management.
GE Capital itself said it’s been preparing for enhanced oversight by reducing its balance sheet and increasing its capital and liquidity.
